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PharmaNova Inc. today announced that it has formed a strategic alliance and collaboration with Orient Europharma Company Ltd. (Taiwan OTC: 4120) (OEP) of Taiwan, R.O.C. In this two-way relationship, it is intended that OEP will be PharmaNova's exclusive manufacturing and commercialization partner for future PharmaNova products in the core territories of Taiwan, Hong Kong, Singapore, Malaysia, the Philippines and S. Korea served by OEP, and that OEP will manufacture and supply PharmaNova products to future marketing partners in the broader Asia-Pacific region. OEP has an extensive technology base for the controlled release of pharmaceuticals, both orally and by transdermal administration, that is highly complementary to PharmaNova's platform Medisperse(TM) nanoparticle and Surface Enhancement (SET(TM)) technologies.
As part of the arrangement, OEP will address the scale up of the nanoparticle technology and, together, OEP and PharmaNova intend to become world leaders in the application and manufacturing of nanoparticle-based pharmaceuticals. The companies will collaborate on the application of both companies' platform technologies to complete mutually selected new product opportunities, for development and commercialization worldwide utilizing OEP's new manufacturing facilities in Taiwan. PharmaNova President Rodney Brown said, "We are very impressed with OEP's excellent product manufacturing and commercialization capabilities and look forward to a long and mutually rewarding relationship."
OEP has an extensive portfolio of products both in development and already in the marketplace, and PharmaNova will support OEP in expanding the regional commercialization of its products throughout Asia-Pacific and through partnerships in Latin America, Europe and U.S. Central to the collaboration is the exclusive development and commercialization of Xenolev-CR(TM) by OEP for Asia Pacific territories. Xenolev-CR(TM) is PharmaNova's proprietary non-hormonal treatment for hot flashes associated with the menopause and other conditions. Mr. Peter Tsai, president and chairman of OEP, said, "We are very excited about this partnership with PharmaNova as it will allow OEP to expand the geographical scope of our business activities beyond the immediate Asia Pacific region by contributing our expertise in product development and utilizing our new state of the art manufacturing facilities."
About PharmaNova, Inc.
PharmaNova Inc. ( ' http://www.pharmanovaco.com ' ) is a privately held, specialty drug development company founded on the re-purposing and enhancement of known drugs using proprietary Medisperse(TM) nanoparticle and other formulation technologies. PharmaNova's revenue base is generated through partnering and licensing strategies involving low-risk, fast to market products and commercialization partners worldwide. PharmaNova's current focus is on extraordinary value products in Women's Health and adjacent areas, including a non-hormonal treatment for menopausal hot flashes, anti-viral agents and cancer chemotherapeutics.
Orient Europharma Co. Ltd., ( ' http://www.OEP.com.tw ' ) is an international publicly traded pharmaceutical and nutritional company based in Taipei, Taiwan, R.O.C. traded over the counter under symbol "OEP." OEP specializes in research and marketing of innovative, niche-oriented pharmaceuticals, with a strong franchise in oncology, nutritional and food supplements, dermo-cosmetics and consumer healthcare products. OEP has a well-established marketing base in numerous Asia-Pacific countries with subsidiaries in Singapore, Malaysia, Hong Kong, Philippines and China, and it is poised for significant growth.
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